IPFS News Link • American History
IPFS News Link • American History
How do you decide whether you are wealthy or not? Do you determine that
by how much money you spend at the stores? Of course not. You can
tell if you are wealthy or not by comparing your assets (the money in
your bank account, equity in your home, etc.) to your liabilities (your
mortgage, credit card debt, student loan debt, etc.). Well, a lot of
Americans seem to believe that just because a lot of money is
circulating in our economy that it must mean that we are a wealthy
nation. But that is simply not true. To tell whether or not America is
a wealthy nation, you need to look at the balance sheet numbers. And
when you look at the balance sheet numbers, a very sobering story
emerges. Over the past three decades, government debt, business debt
and household debt have absolutely exploded, but our assets have not. That means that we are getting poorer as a nation. Hopefully the
shocking charts and statistics in this article will help a lot of
Americans to wake up. Yes, we once were the wealthiest nation on earth,
but today America is no longer a wealthy nation.